IBM acquires data compression provider Storwize

NEW YORK, USA: IBM announced that it has entered into an agreement to acquire Storwize, a Marlborough, MA-based private company that provides data compression technology.

With Storwize, IBM is acquiring storage technology that can compress primary data, or data that clients are actively using, of multiple types -- from files to virtualization images to databases.

Also Read: IBM in talks to buy Storwize for $140 mn

The acquisition is anticipated to close in the third quarter of 2010. Financial terms are not disclosed.

Storwize has over one hundred customers, such as Mobileye, Polycom Israel, Shopzilla, Inc. and Sumitomo Mitsui Construction, across energy, manufacturing, finance, insurance, telecommunications and cloud services industries.